Plexus Corp. (PLXS) vs Sanmina Corporation (SANM)

Plexus Corp. and Sanmina Corporation are both Electronic Components companies. Sanmina Corporation is the larger, with a market value of $7.0B against $5.0B — 1.4× the size. Sanmina Corporation trades at the lower P/E: 23.6× against 25.3×. Sanmina Corporation grew revenue faster over the last twelve months: 58.6% against 23.1%. Plexus Corp. has the higher net margin (4.08% vs 2.41%) and the lower return on invested capital (10.6% vs 10.7%). Across the 21 metrics below, Sanmina Corporation leads on 13 and Plexus Corp. on 8.

Valuation

Metric PLXS SANM Electronic Components median
P/E 25.34 23.58 25.59
P/S 1.03 0.57 2.41
P/B 3.25 2.85 2.89
Price to free cash flow n/m 12.09 23.81
EV/EBITDA 16.59 10.17 14.49
EV/Sales 1.03 0.59 2.52
Earnings yield 3.95% 4.24% 2.64%
Free cash flow yield (0.57%) 8.27% 1.62%

Profitability

Metric PLXS SANM Electronic Components median
Gross margin 10.12% 9.01% 32.78%
Operating margin 5.31% 4.15% 4.90%
Net margin 4.08% 2.41% 3.46%
Free cash flow margin (0.58%) 4.69% 1.66%
Return on equity 13.38% 0.00% 5.59%
Return on assets 5.73% 4.12% 4.13%
Return on invested capital 10.62% 10.74% 5.74%

Growth

Metric PLXS SANM Electronic Components median
Revenue growth (TTM) 23.11% 58.56% 13.94%
EPS growth (last fiscal year) 18.36% 14.07% 35.44%
Revenue growth, 5-year CAGR 8.07% 3.18% 6.70%
Net income growth, 5-year CAGR 7.83% 13.05% 7.53%

Health

Metric PLXS SANM Electronic Components median
Debt to equity 0.17 0.79 0.06
Current ratio 1.43 1.78 2.50
Net debt to EBITDA (0.06) (1.32) 0.41

Dividend

Metric PLXS SANM Electronic Components median
Dividend yield — — 1.10%
Payout ratio — — 0.29

Size

Metric PLXS SANM Electronic Components median
Market cap 5.00b 6.98b 1.10b

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